Asia-Pacific Solar Microinverter Market is Expected to Grow with A High CAGR In the Forecast Period
The Asia
Pacific Solar Microinverter Market is estimated to grow at a high rate in the
upcoming period due to rising demand for renewable energy and growing
preference towards clean and greener environment.
According to TechSci Research
report, “Asia-Pacific Solar
Microinverter Market - By Country, Competition, Forecast & Opportunities,
2028F”, The Asia
Pacific Solar Microinverter Market is expected to experience significant growth
in the coming years. This can be attributed to several factors, including the
increasing demand for clean and renewable energy sources, the growing adoption
of solar energy, and the favorable government initiatives and regulations. Solar microinverters are devices that convert direct current (DC)
generated by solar panels into alternating current (AC), which is used to power
homes and businesses. Unlike traditional inverters, which convert DC power from
multiple solar panels, microinverters are installed on each individual solar
panel, allowing for greater efficiency and flexibility in the system.
One of the key drivers of the Asia Pacific Solar
Microinverter Market is the increasing demand for clean and renewable energy
sources. As concerns about climate change continue to mount, many governments
and businesses are looking for ways to reduce their carbon footprint and
increase their use of renewable energy sources. Solar energy is one of the most
promising renewable energy sources, as it is abundant, widely available, and
does not produce harmful emissions.
Another factor contributing to the growth of the
Asia Pacific Solar Microinverter Market is the growing adoption of solar
energy. As the cost of solar panels continues to decrease, more and more
individuals and businesses are starting to invest in solar energy systems.
Additionally, the increasing efficiency of solar panels and related
technologies has made solar energy a more attractive option for those looking
to reduce their energy costs and environmental impact.
The Asia Pacific Solar Microinverter Market is
poised for significant growth in the coming years, driven by factors such as
increasing demand for clean and renewable energy sources, growing adoption of
solar energy, and favorable government initiatives and regulations. While there
are challenges facing the industry, such as the high cost of microinverters
compared to traditional inverters, the overall outlook for the market is
expected to be positive, with strong growth projected over time.
The Asia Pacific Solar Microinverter market is
being pushed primarily by a growing transition, away from fossil fuel-based
energy generation and towards more sustainable and cleaner power source
alternatives. In addition, favorable rules and various government subsidies
have resulted in the building of solar power infrastructure, including microinverters.
Additionally, user customization of solar microinverters and extended warranty
periods, as well as increased usage of building-integrated photovoltaics, are
driving market growth.
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China is the world's largest producer of
solar energy. Because of its position (which is relatively sun-drenched) and
the lowering cost of solar PV technology, the country has been able to make
significant success in solar energy generation.
In China, there has been a greater emphasis
on solar inverters that provide a Zero-voltage Ride Through (ZVRT) system. To
meet the scheme's requirements, the solar utility must operate continuously.
This is especially relevant given that the country hosts a major percentage of
solar power generation, globally. Its contribution of the renewable power
generating mix was around 327TWh in 2021 and may increase due to forthcoming PV
projects. The Asia-Pacific Solar Microinverter Market is divided
into Type, Connectivity, Application, Sales Channel, and Country. Based on
Type, the market is divided into Single Phase and Three Phase. Based on
Connectivity, the market is segmented into Integrated and Standalone. Based on Application,
the market is segmented into Residential, Commercial, and Utility. Based on
Sales Channel, the market is divided into Direct and Indirect. Based on country,
the market is divided into China, Japan, India, South Korea, Australia,
Vietnam, Indonesia, Singapore, Philippines, Malaysia.
Key market
players in the Asia-Pacific Solar Microinverter Market include:
- Emeren
Group Ltd
- Altenergy
Power System Inc
- SunPower
Corporation
- Zhejiang
Envertech Corporation Limited
- Zhejiang
Envertech Corporation Limited
- Enphase
Energy, Inc
- Darfon
Electronics Corporation
- Hoymiles PV microinverter.
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“Solar microinverters
convert direct current (DC) from a solar panel to alternating current (AC).
This conversion enables for optimal power extraction from the solar panel while
also increasing the end user's safety. Solar microinverters are commonly found
in homes and small business solar photovoltaic (PV) systems. The primary
drivers driving the growth of the solar microinverter market are rising demand
for solar power, falling costs of solar PV systems, and government incentives.
Furthermore, the growing use of solar microinverters in commercial and
residential application is supporting market expansion. The high cost of solar
microinverters, on the other hand, is a key commercial limitation. The
Asia-Pacific region is predicted to be the largest market for solar
microinverters. Due to rising
demand for renewable energy, supportive government policies, and falling solar
PV system costs, the Asia-Pacific region is predicted to develop at the fastest
CAGR during the projection period.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
“Asia-Pacific Solar
Microinverter Market by Type (Single Phase and Three Phase), By Connectivity (Integrated,
Standalone), By Application (Residential, Commercial, Utility), and By Sales
Channel (Direct, Indirect), By Country, Competition, Forecast and Opportunities, 2028F,” has
evaluated the future growth potential of Asia-Pacific Solar Microinverter
Market and provides statistics and information on market structure, size,
share, and future growth. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Asia-Pacific Solar
Microinverter Market.
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